According to a new survey, more people than ever before are looking to get free advice regarding their debt. The stats published in The Telegraph this week showed that in 2017, around 1.5 million Britons sought free debt advice, up from 1.4 million in 2016. The survey, which was conducted by the Money Advice Trust, also found that 10 million people across the UK are constantly battling with debt.
From the results shown in the research, it’s possible to see that there may also be a large increase in the amount of people turning to debt advice charities in 2012.
A representative from the Money Advice Trust said that the reason for this increase was likely down to unemployment rising and day to day costs not showing any signs of getting any cheaper either. They also mentioned that their research showed that many people are also going to the desperate measures of selling things like their cars and jewellery to make ends meet.
With Simple Payday, they always recommend that debt advice charities should be the first port of call should you suffer from a long term debt problem. The payday loans that we offer here on the site should only be used on a temporary basis for emergency expenses.
According to Halifax, the average house price in the UK fell by 1.3% in the UK between November and December. This is higher than the previous decline of 0.9%, which was seen in previous months. As the prices have remained steady throughout 2017, the banks are reporting that they are predicting that the same thing will happen this year. This is obviously dependent on the UK being able to avoid recession.
The report showed that towards the end of 2017, the average house price in the UK was £160,063. It also showed that there were 6 monthly falls, 5 increases and one month where the average prices didn’t change. This is a positive step for the housing market, as it managed to hold its own even though the economic climate wasn’t exactly desirable.
So, what does this mean for people who are intending to buy in 2018? Well, hopefully it means that houses will be a bit more affordable, meaning it’s more likely the market will get going again. Now might be just the time to do a bit of window shopping!
There has been a new report released this week by First Direct which says that around a third of households in the UK have as little as £250 of savings. The survey of around 1,000 households also found that around one in five have no savings whatsoever. It also found that the least prepared age bracket was between 25 and 34.
With this in mind, if households have an average monthly take home, £250 would only last around five days. This is the case for around six million households across the UK, meaning that if they stopped being paid, it could be a disaster financially.
The advice that is given by experts is that you should have about three months’ salary saved up in case of emergencies. Obviously this is easier said than done, so what happens if your cash does run out and you don’t have access to savings? What happens next?
Well, if this situation does arise, then a payday loan could be your best option. It’s possible to apply for anything from as little as £50 to as much as £1250, to use for whatever you wish to spend it on. Although these types of loans should not be used as a permanent solution, they could help bridge the gap should there be a financial emergency.